“We ended 2012 with a strong quarter,” CEO Larry Page said in a canned quote.

“Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half. In today’s multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It’s an incredibly exciting time to be at Google.”

Google will have an earnings call to discuss the earnings starting around 4:30pm.

We now live in a multiscreen world.

We feel naked w. out our smartphones. Many users have a latop, phone, tablet, we are in "uncharted" territory. Faster adoption than ever before. That's why we put so much focus on devices. One of our biggest bets. As well as software. Best of Google in one easy to use package.

Other highlights...

Q&A TIME

Bernstein: What have been majoe driver of deceleration of Google sites. Second, for TAC, grew less than we've seen. What driven?

Patrick: On Google sites, quite a bit of noise because of FX. Overall, pleased with growth around 20%, last quarter more headwinds. We are pleased with YouTube business. Despite FX noise, which carriers over to sites, we're pleased with overall growth.

On TAC, as we said, we think of TAC, it's distribution and it's worth paying for. Our apps across, and it's true for mobile. All of the mobile is thriving to the extent that it is. Nothing new here, but excited by the trends.

Macquarie: On knowledge graph, where are in terms of roll out? Economic impact? On Google shopping, do you anticipate not leaving Google shopping?

Larry: Rolled out knowledge graph recently, some of the internationalization is hard work. Something like 1% of where we should be. Economics point, I think, way we look at it is we provide better answers, so we can grow the business. Increase the modality, voice, mobile, I'm super excited. Generally we monetize these things.

Knowledge runs on right side where ads run, so could be short term impact, but getting people better answers is good in the long run.

Just rolled out Google shopping. Tremendous uptake from consumers, but no details on how it will change.

Morgan Stanley: Now that you own ITA, Zagat, Frommers, can you talk about travel? Secondly, Patrick can you give FX netrual CPC.

Larry: I think we've always done a good job sending people to the right places. I don't think that being able to answer complex question wouldn't mean sending to other site. I think I used the hotel. Still might use other sites. But we are looking at those things. Google aspiration do that for any area, not just travel. Working with as many companies as we can. Trying to be practical about it. Assets in travel.

Patrick: Answer, [CPC] on a y/y basis, down 4%, on q/q up 1%, fix FX adjusted

RBC: Can you talk about where monetization of maps is? Any comments on graphical search?

Larry: I think that people are always focused on monetization of maps. Important to look at history. Thought it was critical to search experience. If we look at part that is geographically related, we need to understand where things are in the real world. We make quite a bit of money on web search, so we already make quite a bit of money in that way, which let us make those investments. Early stages of monetization on maps themselves. Still in early stages.

Asking about graph search ... when we think about search, organize the world's information. Been at that for quite a while. Investments in all sorts of areas like maps. There's knowledge search, mixing data, we continue to do that. Our business changed a lot. 10 years ago what you thought Google should do almost unrecognizable what it can do now.

Look at voice, and all the investment we've done there. Very focused on that.

Merill Lynch: Can you talk about progress on CPCs?

Larry: Mobile business, doing well, tremendous growth. Serving users well, amazing progress. Rate of improvement is high. Assume usage will follow good products. Consider mobile extension of our desktop. People use maps on desktop, transferred very well. Chrome on Android is an amazing experience. Those phones are like using a desktop last year. Experiences improving a lot and quickly. Very optimistic about it. CPCs will improve. I mentioned we are working to simplify advertising process. Excited about that.

Asked about CapEX...

Larry: We run a number of businesses. We have a lot of people, growing at edge of what's reasonable. It has moderated.

Patrick: If you go back, it has been really lumpy. Gone from billions to hundreds of millions. Testament. You'll see a data center, we spend for data center, then an extension, just the nature of the business. Quite lumpy. A billion of CapEx, aligned with excitement around our products. Fueled by positive momentum in many areas, now is time to invest.

Larry: We find our business works better if our hiring is reasonably smooth.

When will mobile and desktop CPCs be equal? Any prospects for China?

Larry: Not making predictions about CPCs. I don't think this is a long term problem. I think as I've said before, advantages to mobile. Notified instantly, camera, lots of opportunities, expect that OT revolutionize marketing. Generate a lot more money than we do now.

Nikesh: On China ... we do operate there. We have ad sales. Many Android users.

Patrick: In case of Motorola no impairment related to patents from FTC decision.

Google Fiber? Future products...

Larry: Early, but excited.

Patrick: Excited about Kansas City, focused on KC, growing in terms of installs, people love the product. It's been a great success overall. It's not a hobby, we think we should be making good business, look at business expanding. We got to nail, good place to debug the product and the experience.

Larry: Over next few years, best way to predict future is to make it, so that's what we're trying to do. Google Now, if you have your question before you have it. Wouldn't it be great for you if we had answers to your questions. Would save you some time.